January 27, 2010



Richard Steinberg shares his thoughts on significant acquisitions activity over the past year in the 2009 Dealmakers Report published in the Financial Post.

Excerpt

Richard Steinberg, head of securities at Fasken Martineau DuMoulin in Toronto, noted that pension plans were flush with cash and were doing deals last year. "They don't have to go out and seek money." So while they can be classified as a type of financial buyer, their acquisitions of late have been strategically filling out their portfolios.

He added that "we saw the insatiable appetite of China to acquire commodities all over the world, but certainly here as well." A decade ago, Canadian companies were competing with U.S. companies for strategic acquisitions. That's no longer the case.

"It's become a lot more international. Canadian companies that are potential acquirers will have increased competition when seeking acquisition targets."